This is what a global trade war looks like

04/09/25 • 6 min

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China — undeterred by President Donald Trump raising import taxes on the country to 104% — will raise its tariff on U.S. goods by another 84%. The European Union also responded to U.S. steel and aluminum tariffs with some specific import duties of its own. How are markets digesting this? Then, the IRS may be about to lose its third leader in four months. And later: a look at how workers are using AI in their jobs.

Previous Episode

New import duties and a bond market sell-off

Fresh U.S. tariffs have more than doubled the cost of goods coming from China; hefty duties have been applied to goods from allies, as well — 20% for the EU and 24% for Japan. The bond market is unsettled this morning, partly in response. What exactly is going on here? Plus, our country remains deeply divided. As part of our Office Politics series, we identify some widely shared principles Americans generally agree on.

Next Episode

How far could U.S.-China trade war escalations go?

From the BBC World Service: While President Donald Trump's tariffs have been paused for 90 days for most countries, one targeted country didn't escape the list: China. We'll discuss the tools the Chinese government could employ in response, including additional tariffs, export controls, sanctions and a reduction in the purchases of U.S. Treasuries. We'll also hear from an LA-based toy store owner about the stress and confusion that tariffs are causing.